Combined GAP Insurance Terms & Conditions HCG01-1
Contents Introduction 3 Eligibility 3 Your Contract Of Insurance 4 How To Make A Claim 4 Definitions 5 What Is Covered Under This Insurance 6 Combined GAP Finance GAP Excess Contribution What Is Not Covered Under This Insurance 7 Conditions 8 Changes In Your Circumstances 8 Transferring Your Cover 8 Other Insurance 9 Fraud 9 Cancellation 9 Financial Services Compensation Scheme 9 Data Protection 10 Law Applicable To The Contract 10 What To Do If You Have A Complaint 10 How To Contact Us We recommend that You save the below telephone numbers to Your mobile phone Claims Online: www.insurethegap.com/mapfreclaims By telephone: 0330 400 1655 By e-mail: gapclaims@mapfre.co.uk If You Are Calling From Abroad By telephone: +44 330 400 1655 Customer Services By telephone: 0203 305 6767 By e-mail: customerservice@insurethegap.co.uk Telephone lines are open Monday Friday between the hours of 9.30am 5.00pm. If You have any difficulties reading this document, please contact the Customer Services Team. HCG01-2
Introduction Combined GAP Insurance has been designed to cover the gap between the Current Value of the Insured Vehicle and either the amount You paid for the Insured Vehicle, or the net balance payable by You to the Finance Company if the Insured Vehicle is declared a Total Loss within the Period of Cover. Please refer to What Is Covered Under This Insurance on page 6 of this document. IMPORTANT: This policy must be purchased within 180 days of the date You take delivery of the Insured Vehicle Eligibility In order to be eligible for this policy, the following must apply throughout the Period of Cover: You must be a permanent resident of, or in the case of a corporate body, must be registered in the United Kingdom You must be the registered keeper and/or owner of the vehicle You wish this policy to cover You and any Insured Driver(s) must hold a current valid United Kingdom driving licence, or hold a full internationally recognised driving licence that is valid for use in the United Kingdom You must not be a motor trader, garage or associated company, the proprietor(s) of such motor trader or garage, or an employee or a direct relative of such proprietor(s), and; You must have paid the Premium The vehicle that you wish to insure must: Be covered by Your Motor Insurance Policy throughout the Period of Cover Be listed in Glass s Guide, and; Be used principally within the United Kingdom The vehicle that you wish to insure must not: Have been purchased via a private sale Have been previously written off Exceed the maximum vehicle price specified on Your Certificate of Insurance or; Have been the subject of a Total Loss during the period after the date You take delivery of the Insured Vehicle and before the date You request to purchase this policy This policy will not provide cover for: Any vehicle with a gross vehicle weight of 3.5 tonnes or above Any vehicle used at any time in a public service capacity, such as a Military, Police or Ambulance vehicle Any vehicle used at any time for the commercial business use of hire and reward; courier or delivery services, or for the carriage of passengers, including but not limited to taxi services and private hire. For the purposes of this insurance policy, driving school vehicles or vehicles used for driving instruction purposes are covered, provided the Insured Vehicle complies with this policy s Eligibility criteria throughout the Period of Cover Any vehicle used at any time for any type of competition or rally; racing; any type of track day; off road; speed testing; pacemaking, or reliability trials Quad bikes; scooters; tricycles; sidecars; any vehicle with a non-manufacturer fitted LPG conversion, or with a rotary engine Any vehicle that has been modified other than in accordance with the manufacturer s specifications Any imported vehicle unless manufactured as right hand drive and purchased from an authorised United Kingdom distributor, or; Kit cars; invalid carriages; buses; coaches; stretched limousines; touring caravans, or trucks HCG01-3
Your Contract Of Insurance This policy and the Certificate of Insurance must be read together as they form Your insurance contract with the Insurer. Insurer This insurance is underwritten by MAPFRE ASISTENCIA Compañía Internacional de Seguros y Reaseguros Sociedad Anonima which is authorised by Dirección General de Seguros y Fondos de Pensiones and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Details about the extent of regulation by the Financial Conduct Authority and Prudential Regulation Authority are available on request. MAPFRE ASISTENCIA Compañía Internacional de Seguros y Reaseguros Sociedad Anonima is incorporated and registered in the Kingdom of Spain and registered as a foreign company in the United Kingdom with company number FC021974, acting through its UK branch with branch number BR008042 and its principal office is at Alpha House, 5th Floor, 24A Lime Street, London, EC3M 7HS. Administrator This insurance is administered by Halo Insurance Services Limited who acts on behalf of the Insurer. Halo Insurance Services Limited is authorised and regulated by the Financial Conduct Authority with FCA number 504629. Halo Insurance Services Limited is registered in England and Wales with company number 06929208 and its registered office is at Suite 1, 56 Gloucester Road, London SW7 4UB. InsuretheGap.com is a trading name of Halo Insurance Services Limited. Claims Administrator Claims are administered by Abraxas Insurance Administration Services Limited who acts on behalf of the Insurer. Abraxas Insurance Administration Services Limited is authorised and regulated by the Financial Conduct Authority with FCA number 308702. Abraxas Insurance Administration Services Limited is registered in England and Wales with company number 02928787 and its registered office is at 1 Victoria Street, Bristol Bridge, Bristol, BS1 6AA. How To Make A Claim In the event of a claim please contact the Claims Administrator and have Your Certificate of Insurance and vehicle registration number to hand. Online: www.insurethegap.com/mapfreclaims By telephone: 0330 400 1655 By e-mail: gapclaims@mapfre.co.uk IMPORTANT: You must contact the Claims Administrator prior to accepting any Motor Insurance Settlement. The Claims Administrator will register the details of Your claim and send a claim form to You. You will need to sign this and provide the following information/documentation: a) Your Motor Insurance Policy certificate and schedule b) The Motor Insurance Settlement letter c) The original purchase invoice for the Insured Vehicle d) A copy of the Finance Agreement and the Finance Early Settlement Balance from the Finance Company e) A copy of the Insured Driver s driving licence, if applicable You will need to return the completed claim form and supporting documentation to the Claims Administrator: In writing: Abraxas Insurance Administration Services Ltd, 1 Victoria Street, Bristol Bridge, Bristol, BS1 6AA, or; By e-mail: gapclaims@mapfre.co.uk If the information above is not given to the Claims Administrator within 30 calendar days of opening a claim, then unless the Claims Administrator agrees an extension, or other exceptional circumstances apply, Your claim may not be paid. HCG01-4
Definitions Whenever the following words appear in Your policy, they have the meaning given below. Certificate of Insurance means the validation certificate issued alongside this document that sets out the name of the insured person or company, the vehicle covered and the limits applicable to this insurance Current Value means the greater of either the Motor Insurance Settlement or the Market Value of the Insured Vehicle Date of Loss means the date of the incident which results in the Insured Vehicle being declared a Total Loss Finance Agreement means the agreement between You and the Finance Company (excluding contract hire and finance lease agreements) for the purchase of the Insured Vehicle. The Finance Agreement must be in Your name Finance Early Settlement Balance means the net balance payable by You to the Finance Company at the Date of Loss, less any additional extras noted in What Is Not Covered Under This Insurance No. 6 on page 7 of this policy Finance Company means any lender with whom You have agreed a loan or credit agreement for purchase of the Insured Vehicle Glass s Guide means the motor industry vehicle pricing guide Insured Driver means: a) A driver named on Your Motor Insurance Policy, or; b) If a company is specified on the Certificate of Insurance, any person who is at least 18 years of age, who works for You, or in connection with Your business, who holds the appropriate driving licence to drive the Insured Vehicle and who is covered by Your Motor Insurance Policy Insured Vehicle means the vehicle shown on the Certificate of Insurance Market Value means the value of the Insured Vehicle at the Date of Loss by reference to Glass s Guide retail transacted value. Please note that if modifications have been made, or optional accessories included at the time of purchase, the Claims Administrator may request an assessor s report to establish the value of the Insured Vehicle Motor Insurance Settlement means the value of the Insured Vehicle at the Date of Loss as assessed by Your Motor Insurance Policy provider or the Third Party s Motor Insurance, excluding: a) Contents, and any deductions for damage not associated with the Total Loss claim b) Deductions made where You fail to maintain the Insured Vehicle or keep it in a roadworthy condition c) Any rebates, arrears or associated fees, if not already applied d) Any salvage amount deducted e) Any portion of Your Motor Insurance Policy excess that exceeds the limit specified on Your Certificate of Insurance, and; f) Any motor insurance premium owed that is deducted Net Invoice Price means the amount You paid for the Insured Vehicle but not including any discount given by the supplying dealer or any additional extras noted in What Is Not Covered Under This Insurance No. 6 on page 7 of this policy Period of Cover means the period commencing from the Start Date until the earliest of the following: a) The end of the period of cover shown on Your Certificate of Insurance b) The date on which a valid claim is registered by the Claims Administrator under this policy c) The date this policy is cancelled, or; d) The date the Insured Vehicle is sold, transferred to another party, or repossessed Premium means the amount payable by You (including any taxes, commissions or charges) for cover under this policy Start Date means the date Your insurance policy commences as shown on the Certificate of Insurance Territorial Limits means the United Kingdom including Northern Ireland, the Isle of Man and the Channel Islands and any member countries of the European Union, including Andorra; Gibraltar; Iceland; Liechtenstein; Monaco; Norway; San Marino; Switzerland and the Vatican City Third Party s Motor Insurance means where a third party is liable for the Total Loss of the Insured Vehicle, the motor insurance provider of the third party Total Loss means the Insured Vehicle is the subject of accidental or malicious damage, fire or theft to the extent that: HCG01-5
a) A claim is paid as full and final settlement under Your Motor Insurance Policy or a Third Party s Motor Insurance, and; b) The Insured Vehicle is recorded as salvage category A, B, C or D Your Motor Insurance Policy means a comprehensive policy of motor insurance issued by an insurer authorised to sell insurance in the United Kingdom, which is maintained in Your name, names any Insured Driver(s), and is valid throughout the Period of Cover You/Your means the individual or company named as the policyholder on both the Certificate of Insurance and Your Motor Insurance Policy that purchased the Insured Vehicle What Is Covered Under This Insurance 1. Combined GAP Subject to the terms and conditions, if the Insured Vehicle is declared a Total Loss, this policy will cover the greater of: a) The difference between the Current Value and the Net Invoice Price of the Insured Vehicle, or; b) The difference between the Current Value of the Insured Vehicle and the Finance Early Settlement Balance payable to the Finance Company at the Date of Loss The maximum sum insured is specified on Your Certificate of Insurance 2. Excess Contribution If You incur a motor insurance policy excess as part of Your Motor Insurance Settlement and the Claims Administrator authorises Your claim, the Claims Administrator will also pay You up to the limit specified on Your Certificate of Insurance toward the cost of Your Motor Insurance Policy excess. This amount is in addition to the maximum amount payable under this policy Any settlement due under 1a) and 2 will be paid to You, and any other settlement will be paid to the Finance Company In the event that You settle the outstanding Finance Agreement prior to its scheduled expiry date and prior to the Total Loss of the Insured Vehicle, this policy will only provide cover under 1a) and 2 above If You withdraw from the Finance Agreement, or if the Finance Agreement is cancelled, becomes void or is terminated, this policy will only provide cover under 1a) and 2 above HCG01-6
What Is Not Covered Under This Insurance 1. Any claim where the Insured Vehicle is not declared a Total Loss, or where no Motor Insurance Settlement is paid to You 2. Any claim where the Insured Vehicle is stolen or driven without Your consent by any person who has access to the keys, for example where any removable ignition device is left in, or on, the Insured Vehicle. This includes but is not limited to family members, spouse and partner 3. Any Total Loss that occurs when the Insured Vehicle is in the control of anyone other than You or an Insured Driver, unless the Total Loss occurs as a result of fire or theft 4. VAT if You are VAT registered 5. Any claim if the driver of the Insured Vehicle is intoxicated by alcohol, under the influence of non-prescribed drugs, or where they have been advised not to drive by a registered medical practitioner 6. Dealer fitted accessories; any delivery charges from the manufacturer to Your home address; incentives; cash back; additional interest charges; rebates; arrears or associated fees if not already applied;vehicle excise duty; paintwork and/or upholstery protection kits; new vehicle registration fees; cherished number plates; fuel; insurance premiums (including the Premium); warranty, servicing and maintenance plans or charges; recovery plans, or any outstanding debt transferred from a previous vehicle 7. Any secondary schedule(s) noted in the Finance Agreement 8. Loss of use of the Insured Vehicle or any other consequential losses that are directly or indirectly caused by the event which led to Your claim, such as travel expenses or loss of earnings 9. Any Total Loss that occurs as a result of the Insured Vehicle being modified other than in accordance with the manufacturer s specification 10. Any claim if Your Motor Insurance Policy provider replaces the vehicle specified on the Certificate of Insurance. In this instance You may be able to transfer cover to the replacement vehicle. Please refer to the Transferring Your Cover Section on page 8 of this document 11. Damage caused by pressure waves of an aircraft or other aerial device travelling at sonic or supersonic speed 12. Any claim arising as a result of war; any warlike activity (whether war be declared or not); civil unrest, or any act that the United Kingdom Government considers to be an act of terrorism 13. Any Total Loss that is directly or indirectly caused by ionising radiation; the combustion of nuclear fuel; contamination by radioactivity from any nuclear fuel or waste, or the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or associated nuclear parts 14. Any Total Loss that occurs outside the Period of Cover, or outside the Territorial Limits 15. Anything not specified under the What Is Covered Under This Insurance Section on page 6 of this document HCG01-7
Conditions 1. No liability will be accepted for any claim where the terms and conditions of this policy have not been fully complied with 2. You must contact the Claims Administrator prior to accepting any Motor Insurance Settlement. Where You do not contact the Claims Administrator prior to accepting any Motor Insurance Settlement, the Claims Administrator reserves the right to use the Market Value of the Insured Vehicle as a substitute for the Motor Insurance Settlement 3. If You are the first registered keeper of the Insured Vehicle and You are entitled to a replacement vehicle under Your Motor Insurance Policy, or if the Insured Vehicle could be replaced by the manufacturer and You do not accept, the Claims Administrator reserves the right to settle Your claim by referencing the cost of a new vehicle of the same make, model and specification as at the Date of Loss by reference to Glass s Guide retail transacted value. In the event that You do not utilise Your Motor Insurance Policy s provision of a replacement vehicle, this may result in no settlement being paid 4. This policy is in addition to Your legal rights Changes In Your Circumstances You must call the Administrator immediately on 0203 305 6767 if any of the following changes in circumstances apply to You: You change or transfer ownership of the Insured Vehicle You change what You use the Insured Vehicle for (for example, if You start using it for commercial purposes) You customise or make alterations to the Insured Vehicle You change the registration number of the Insured Vehicle to a cherished number plate You change Your address You change Your name (for example, due to marriage) You have Your Motor Insurance Policy declined or cancelled You pay off the Finance Agreement, or; You develop any problems that affect Your ability to drive If You advise the Administrator of a change in Your circumstance which results in You or the Insured Vehicle becoming ineligible for cover, the Administrator will cancel Your policy. Please refer to the Cancellation Section on page 9 of this document. Failure to advise the Administrator of a change in Your circumstances may result in You or the Insured Vehicle becoming ineligible for cover and Your claim not being paid. Transferring Your Cover In the event that the Insured Vehicle is declared a Total Loss by Your Motor Insurance Policy provider or a Third Party s Motor Insurance and You are provided with a replacement vehicle as part of a Motor Insurance Settlement, under a manufacturer s or dealer s warranty, or due to merchantable quality issues, You may transfer this policy to a replacement vehicle provided that the transfer occurs within 12 months of the Start Date. The Start Date and the Period of Cover will remain the same. Irrespective of the invoice price of the replacement vehicle, the original invoice price or Glass s Guide retail value (calculated from the date the vehicle was purchased) will be used to calculate any future claim. How to Transfer Write to the Administrator at InsuretheGap, 8 The Square, Stockley Park, Uxbridge, Middlesex, UB11 1FW within 30 days of the date You take delivery of the replacement vehicle Provide a copy of the original purchase invoice for the Insured Vehicle, and; Provide a copy of the purchase invoice for the replacement vehicle The transfer will be subject to the Administrator s approval and if accepted, the credit or debit card used to purchase this policy will be charged a 20 transfer fee HCG01-8
Other Insurance If the risk covered by this policy is also covered by any other insurance, this policy shall only pay a fair proportion of any settlement which would otherwise be due under this policy. Fraud If any information provided by You or anyone acting on Your behalf is inaccurate or fraudulent, or if You fail to disclose any information in response to a specific request which might reasonably affect the Insurer s decision to provide cover under this policy, Your right to any benefit under this policy will end, and the Administrator shall be entitled to recover any settlement paid or costs incurred as a result of any such fraudulent or misleading means. Cancellation Cancellation within the cooling-off period You have the right to cancel this policy and to receive a full refund of Premium provided no claims are known or reported by giving notice of cancellation within 30 days of the date You purchase this insurance. Please quote the number that appears on Your Certificate of Insurance. Cancellation outside the cooling-off period If the policy is cancelled at any time after the 30 day cooling off period from the date You purchase this insurance, provided that no claims are known, pending or reported, You will be entitled to a refund of the unused portion of the Premium paid to date, minus an administration charge of 35.00. Any refund due will be calculated on a daily pro-rata basis from the date the Administrator receives the letter, email or phone call of cancellation. To cancel this policy, please contact the Administrator on any of the below: In writing: InsuretheGap, 8 The Square, Stockley Park, Uxbridge, Middlesex, UB11 1FW By telephone: 0203 305 6767 By e-mail: customerservice@insurethegap.co.uk The Administrator reserves the right, in the event of any fraudulent activity, to cancel this policy at any time before or during the Period of Cover. Additionally, once a valid claim has been registered by the Claims Administrator, no refund of Premium will be due. Financial Services Compensation Scheme MAPFRE ASISTENCIA is covered under the Financial Services Compensation Scheme. If the Insurer is unable to meet some of their liabilities and You make a valid claim, You may be entitled to compensation from the FSCS, depending on the type of business and circumstances of the claim. Protection is at 100% where claims: Arise in respect of a liability subject to compulsory insurance Arise in respect of a liability subject to professional indemnity insurance Arise from the death or incapacity of the policyholder due to injury, sickness, or infirmity Protection is at 90% where claims arise under other types of policy with no upper limit. Further information can be obtained from the Financial Services Compensation Scheme: By telephone: 0800 678 1100 or 020 7741 4100 By e-mail: enquiries@fscs.org.uk For more information please visit www.fscs.org.uk HCG01-9
Data Protection Some or all of the information which You supply to the Administrator or Claims Administrator in connection with this policy will be held on their computer records. It may be used for underwriting, claims or marketing purposes. Your information may be transferred outside of the European Economic Area. This will only happen when it is necessary for the conclusion, or performance of a contract that is entered into at Your request or in Your interests, or for administrative or marketing purposes where You have given consent. The Administrator or Claims Administrator may use Your personal details to deal with Your policy and support the development of the business, but will not keep them for longer than necessary. Under the terms of the Data Protection Act, You are entitled to a copy of any information held by the Administrator or Claims Administrator. If You wish to make a Subject Access Request (for a copy of information held), You should contact the Administrator who will charge a 10.00 administration fee for this service. The Claims Administrator will not have access to any information other than that supplied by the Administrator. The Claims Administrator may share Your details with other companies within the MAPFRE group, so that You can be informed of products and services which may be of interest to You by telephone or post. If You do not want to know about these products or services, please contact the Claims Administrator at Abraxas Insurance Administration Services Ltd, 1 Victoria Street, Bristol Bridge, Bristol, BS1 6AA. Under the Data Protection Act, the MAPFRE group can only discuss Your details with You. If You would like anyone else to act on Your behalf, please contact the Administrator. Your information will at all times be held securely and handled with the utmost care in accordance with all applicable law. Law Applicable To The Contract The parties to this policy can choose the law that applies to it. In the absence of any written agreement to the contrary, the laws of England and the jurisdiction of the English courts will apply. What To Do If You Have A Complaint If You have a complaint about how this policy was sold or administered, please contact the Administrator on any of the below: In writing: InsuretheGap, 8 The Square, Stockley Park, Uxbridge, Middlesex, UB11 1FW By telephone: 0203 305 6767 By e-mail: customerservice@insurethegap.co.uk In the unlikely event of a dispute occurring regarding the claims administration, the terms of this policy or the service received, You should contact the Customer Care Manager who will investigate the matter: In writing: The Customer Relations Team, 1 Victoria Street, Bristol Bridge, Bristol, BS1 6AA By telephone: 0330 400 1420 By e-mail: customerrelationsteam@mapfre.co.uk The Claims Administrator will confirm receipt of Your complaint within 5 working days and aim to resolve the problem within 8 weeks. If You remain dissatisfied with the way that Your complaint has been dealt with, You may refer the matter to the Financial Ombudsman Service within 6 months of the date of the Administrator or Claims Administrator s final response: In writing: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR By telephone: 0800 023 4567 For more information please visit www.financial-ombudsman.org.uk This procedure does not affect Your statutory rights and is in addition to any other rights You may have to take legal proceedings. HCG01-10